Monthly Archives April 2011

PIE Rules to Change for Foreign Investors

April 6, 2011 New Zealand Taxation

PIE Rules to Change for Foreign InvestorsNew Zealand is looking set to welcome new foreign investors, as the government changes the tax treatment of non-residents investing in New Zealand Portfolio Managed Entities, bringing the country one step closer to becoming to becoming an international financial service hub.

In December 2009 the government’s Capital Market Development Task Force released its final report, in which it was suggested that the country should pursue the roll of a high-value exporter of back- and middle-office financial services for the international fund management industry. The prospect was reiterated on February 10th 2010 by John Key, in a speech during which he revealed his aim to turn the country into an international financial service hub...

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New Zealanders Want an Earthquake Tax

April 4, 2011 New Zealand Taxation

Christchurch earthquake damage - 22 Feb 2011The Green Party of New Zealand has revealed the results of a recently commissioned survey which shows that a large number of New Zealanders are in favor of a temporary tax to help fund the cost of rebuilding Christchurch.

In a press release issued on April 4th Green Party Co-leader Russel Norman publicized the results of a recent survey aimed at gauging New Zealanders’ opinions on the best course of action to deal with the economic impact of the recent Christchurch earthquake.

The government has estimated that it will see a NZD 5 billion impact from the earthquake and arising recovery costs. The Prime Minister John Key has revealed that the sum will be met with a drastic decrease to national spending along with increased government borrowing...

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